Business

User Tools

Site Tools

Trace: • Workers' Compensation - HRS2400 • Leave - HRS3400 • ASCENDER - Process 1099 Forms • Deductions - HRS3400 • Delete Funds - BUD7300
academy:business_finance_process1099forms

Differences

This shows you the differences between two versions of the page.

Link to this comparison view

Both sides previous revisionPrevious revision
Next revision		Previous revision
academy:business_finance_process1099forms [2023/12/14 16:56] – emorenoacademy:business_finance_process1099forms [2024/12/11 15:45] (current) – emoreno
Line 9: Line 9:
 **Created:** 12/07/2018 **Created:** 12/07/2018
 \\ \\
-**Reviewed:** 12/14/2023+**Reviewed:** 12/11/2024
 \\ \\
-**Revised:** 12/14/2023+**Revised:** 12/11/2024
 \\ \\
  
 <WRAP round intro>The purpose of this document is to guide you through the process of verifying and producing 1099-MISC (Miscellaneous Income) and 1099-NEC (Nonemployee Compensation) forms in Finance.  <WRAP round intro>The purpose of this document is to guide you through the process of verifying and producing 1099-MISC (Miscellaneous Income) and 1099-NEC (Nonemployee Compensation) forms in Finance. 
  
-Beginning with the 2020 tax year, nonemployee compensation (i.e., payments to a non-employee, such as an independent contractor) totaling $600 or more must be reported on the new Form 1099-NEC. **Previously**, nonemployee compensation was reported in box 7 on Form 1099-MISC. +Beginning with the 2020 tax year, non-employee compensation (i.e., payments to a non-employee, such as an independent contractor) totaling $600 or more must be reported on the new Form 1099-NEC. **Previously**, non-employee compensation was reported in box 7 on Form 1099-MISC. 
  
 This document assumes you are familiar with the basic features of the ASCENDER Business system and have reviewed the [[academy:business_overview_guide|ASCENDER Business Overview guide]]. This document assumes you are familiar with the basic features of the ASCENDER Business system and have reviewed the [[academy:business_overview_guide|ASCENDER Business Overview guide]].
Line 23: Line 23:
  
 <WRAP center round info> <WRAP center round info>
-ASCENDER users should use the IRS Filing Information Returns Electronically (FIRE) system to file electronically, not the IRIS Taxpayer Portal.+ASCENDER users should continue using the IRS Filing Information Returns Electronically (FIRE) system to electronically file 1099s. The IRIS Taxpayer Portal does **NOT** support ASCENDER files.
 </WRAP> </WRAP>
  
academy/business_finance_process1099forms.1702572960.txt.gz · Last modified: 2023/12/14 16:56 by emoreno

Page Tools

Except where otherwise noted, content on this wiki is licensed under the following license: CC Attribution-Share Alike 4.0 International

Americans with Disabilities Act (ADA) and Web Accessibility

The Texas Computer Cooperative (TCC) is committed to making its websites accessible to all users. It is TCC policy to ensure that new and updated content complies with Web Content Accessibility Guidelines (WCAG) 2.0 Level AA. We welcome comments and suggestions to improve the accessibility of our websites. If the format of any material on our website interferes with your ability to access the information, use this form to leave a comment about the accessibility of our website.